MIS Business Management Systems - Vocabulary Flashcards

Vocabulary-style flashcards covering key terms and concepts from the MIS Business Management Systems lecture notes.

Moore's Law

The observation that the number of transistors on a computer chip doubles roughly every 18 months, with the price of transistors decreasing accordingly.

DBMS (Database Management System

stores and classifies information, verifies inputs, stores data, performs queries, and enables report generation.

Predictive Information System

A component that integrates with the DBMS to provide statistical analysis of likely outcomes, often with a limited number of inputs and unknowns, and may offer a recommended course of action.

Decision-Making Information System

A system that combines the DBMS with predictive analytics to aid managers in decision making, typically with a small set of inputs and outputs a recommended action.

On-Premises

A system hosted within the organization's own facilities, offering complete control but with high upfront costs and ongoing IT requirements.

Platform as a Service (PaaS)

cloud storage that allows running custom programs, with infrastructure maintained by the provider and scalable server sizes.

Software-as-a-Service (SaaS)

Software delivered from the cloud by a third party; updates managed by the provider; reduced initial costs and maintenance responsibilities, with some customization limits.

Human Resources Management (HRM)

Strategic use of employees to enable organizational efficiency and competitive advantage; includes recruiting, training, compensation, appraisal, promotion, and HR-related administration.

Legal Framework (HRM)

Extensive government oversight requiring HR activities to comply with evolving regulations, often leading firms to use HRM systems or SaaS to ensure compliance.

CRM (Customer Relationship Management)

a system to manage a firm's interactions with customers using analytics to identify valuable customers and improve sales and service.

CRM – Retail Focus

CRM applied to retail that aggregates customer data (email, phone, social data) with buying habits to anticipate customer desires and optimize marketing.

Business Process Management (BPM)

A discipline that streamlines organizational activities; handles structured, unstructured, and variable processes with steps for design, modeling, execution, monitoring, and optimization.

Gantt Chart

A visual chart showing project tasks, their durations, and dependencies to illustrate timelines and progress.

Project Management (PM) Software

Software that supports project planning and execution, often cloud-based, with tools like Gantt charts, task rescheduling, and stakeholder collaboration.

Initiation Phase (PMP)

Phase where project goals are identified, feasibility is assessed, scope and timeline are defined, stakeholders are identified, and a work statement is created.

Planning Phase (PMP)

Phase where a detailed project plan is developed, often including a refined Gantt chart and resource scheduling, with stakeholder review.

Execution Phase (PMP)

Phase where the project plan is carried out, progress is monitored, and resources are managed; PM software may aid in tracking and adjustments.

Closure Phase (PMP)

Phase in which lessons learned are documented, project outcomes are evaluated, contracts are closed, and resources are accounted for.

UPC (Universal Product Code)

The standard barcode used in grocery stores to identify products and enable inventory tracking.

RFID (Radiofrequency Identification

technology enabling real-time and faster inventory tracking and management.

Business Intelligence (BI)

The use of data mining, analytics, and visualization to help managers make faster, more informed decisions.

Data Visualization

Tools and dashboards that present BI data in a visual format to help decision-makers comprehend patterns and insights.

Data Mining

Techniques used to extract patterns and relationships from large data sets to inform decision making.

Data Science

The process of gathering, storing, and searching relevant data and applying analytics to gain usable information from big data.